What happened
Davolink's controlling stake is now set to change hands from Tera Science to MPS Invest Co., Ltd., in a deal worth US$1.93M.
A change of the controlling shareholder can reshape a company's strategy, capital allocation, and board.
| From | Tera Science |
|---|---|
| To | MPS Invest Co., Ltd. |
| Deal value | US$1.93M |
| Filed | 2026-09-17, [Amended] Share transfer agreement that will change the largest shareholder |
| Source | DART rcept 20260917900374 → open original filing |
Read the full filing in English
Correction Notice regarding Stock Purchase Agreement Involving Change of Largest Shareholder
Correction Date: 2026-09-17
1. Corrected Public Disclosure Document Stock Purchase Agreement Involving Change of Largest Shareholder
2. Submission Date of Corrected Public Disclosure Document 2026-09-17
3. Reason for Correction Correction of per-share price, total purchase price, and payment schedule for stock transfer
4. Corrected Items
Before Correction: - Per-share price (KRW): 1,700 - Total purchase price (KRW): 3,811,515,090 - Payment method: 1) Deposit: 515,624,810 KRW (2024.12.23) 2) Balance: 3,295,515,090 KRW (2026.09.17) - Stocks to be deposited into purchaser's securities account upon receipt of balance payment - Planned largest shareholder change date: 2026-09-17 - Planned shares to be held: 3,823,859 - Planned ownership ratio: 7.49% - Contract date: 2026-08-13 - Total purchase price: 3,811,139,900 KRW - Effective date: 2026.09.17
After Correction: - Per-share price (KRW): 1,190 - Total purchase price (KRW): 2,667,797,930 - Payment method: 1) Deposit: 235,393,935 KRW (2024.12.23) 2) Balance: 2,432,403,995 KRW (2026.10.22) - Stocks to be deposited into purchaser's securities account upon receipt of balance payment - Planned largest shareholder change date: 2026-10-22 - Planned shares to be held: 3,823,859 - Planned ownership ratio: 7.49% - Contract date: 2026-09-17 - Total purchase price: 2,667,797,930 KRW - Effective date: 2026.10.22
5. Stock Purchase Agreement Involving Change of Largest Shareholder
1. Contracting Parties - Seller: TeraScience Co., Ltd. (Current largest shareholder) - Purchaser: MPS Invest Co., Ltd.
2. Contract Details - Number of shares to be transferred: 2,241,847 shares - Per-share price (KRW): 1,190 - Total purchase price (KRW): 2,667,797,930 - Payment schedule and conditions: 1) Deposit: 235,393,935 KRW (2024.12.23) 2) Balance: 2,432,403,995 KRW (2026.10.22) - Stocks to be deposited into purchaser's securities account upon receipt of balance payment - Mandatory holding requirement: No
3. Planned Largest Shareholder - Name: Ji Seo-hyun - Planned change date: 2026-10-22 - Planned shares to be held: 3,823,859 shares - Planned ownership ratio: 7.49%
4. Contract Date 2026-09-17
5. Other Matters for Investment Consideration
Details: Our current largest shareholder TeraScience Co., Ltd. has agreed to transfer shares to MPS Invest Co., Ltd. as follows:
1. Contract execution date: 2026-09-17 2. Total purchase price: 2,667,797,930 KRW 3. Contracting parties: - Seller: TeraScience Co., Ltd. - Purchaser: MPS Invest Co., Ltd. 4. Management control transfer: There is no change in management control resulting from the execution of this stock purchase agreement. 5. The number of shares after change stated in [Detailed Change Details] below excludes 11,499,950 shares that are subject to a stock purchase agreement with a balance payment date of 2026.10.22, calculated from the shares held by TeraScience Co., Ltd. as of the report submission date. 6. The number of shares before change stated in [Detailed Change Details] below excludes 3,600,000 shares for which ownership transfer was completed on 2025.02.28 and 300,000 shares executed through collateral enforcement. 7. The ownership ratio stated in [Detailed Change Details] below reflects the shares additionally listed on 2025.02.21.
Related Disclosure: 2026-05-08 Stock Purchase Agreement Involving Change of Largest Shareholder
[Detailed Change Details]
Name (Corporate name, Partnership name, Other organization name) | Relationship | Before Change (Shares/Ownership Ratio %) | After Change (Shares/Ownership Ratio %) | Remarks
TeraScience Co., Ltd. | Largest shareholder before change | 9,841,797 shares / 22.39% | - / - | -
Ji Seo-hyun | Related party of largest shareholder before change | - / - | 3,823,859 shares / 7.49% | -
[Information Regarding Planned Largest Shareholder (Individual)]
1. Name: Ji Seo-hyun 2. Nationality: Republic of Korea 3. Relationship with the listed company and planned largest shareholder (individual): Related party (Representative Director) of TeraScience Co., Ltd., the largest shareholder before change
Source: DART. Information only, not investment advice.
